Tata Elxsi CFO Gaurav Bajaj Resigns; Nalin Rana to Take Charge

Tata Elxsi Limited has announced a change in its Chief Financial Officer, with Gaurav Bajaj stepping down effective May 29, 2026, and Nalin Rana appointed as his successor from May 30, 2026. The company disclosed the development to BSE Limited and the National Stock Exchange of India in a regulatory filing dated April 27, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transition marks a notable shift in the company's senior finance leadership at a time when the technology services sector continues to face scrutiny over growth trajectories and client spending patterns.

The Nomination and Remuneration Committee (NRC) and the Board of Directors took note of Bajaj's resignation at their respective meetings held on the same day. Bajaj, in his resignation letter addressed to Managing Director and CEO Manoj Raghavan, stated that he was leaving to explore new professional opportunities in the next phase of his career. The Board placed on record its appreciation for the contribution he made during his time as CFO. The company has not disclosed the duration of Bajaj's tenure in its regulatory filing.

To ensure a smooth transition, Rana will join the company on May 15, 2026 — two weeks before officially assuming the CFO role on May 30. This overlap period is likely intended to facilitate a structured handover of responsibilities between the outgoing and incoming finance heads.

Rana will serve as a Key Managerial Personnel of the company in accordance with the provisions of the Companies Act, 2013, and his appointment is on a full-time employment basis.

Rana brings 17 years of experience spanning strategic finance, business planning, corporate strategy, and investment banking. He joined the Tata Group in 2021 and has since been serving as a senior leader in the Group CFO and Group Strategy Office of Tata Sons, the holding company of the Tata conglomerate.

In this capacity, he has been involved in strategic analysis of businesses, investments, fundraising, and mergers and acquisitions across multiple verticals within the group. He also holds board positions at Tata Teleservices Limited and Tata Teleservices (Maharashtra) Limited, reflecting his role in overseeing significant group-level responsibilities.

Prior to joining the Tata Group, Rana served as an Executive Director in the investment banking division at Standard Chartered Bank, where he led business development and execution for Indian and global clients.

During his time there, he advised on mergers, acquisitions, and fundraising transactions valued at over $15 billion across multiple sectors, giving him broad exposure to complex financial transactions at an international scale. His background in both corporate strategy and capital markets positions him as a finance leader with experience across both advisory and operational functions.

Tata Elxsi is a subsidiary of Tata Sons and provides design and technology services to clients across industries including automotive, broadcast, communications, and healthcare. The company has established a presence in areas such as embedded software, industrial design, and systems integration, serving global clients across these verticals. It is listed on both the BSE and NSE under the scrip codes 500408 and TATAELXSI, respectively. The regulatory disclosure was signed by Sneha V, Company Secretary and Compliance Officer of Tata Elxsi, and was made in accordance with SEBI's master circular dated January 30, 2026.